FRPT

[la-onda]

part 3:

[la-onda]

potential market:
over and out 

[REALDEALS21]

Great growth stock !!!!!

Article from yesterday...........

Making mine-protected vehicles

By BRUCE SMITH
THE ASSOCIATED PRESS
On the Web

www.forceprotectioninc.com




(Original publication: June 4, 2006)

LADSON, S.C. — Almost three years ago, about a dozen people working in a largely empty factory turned out one of a new breed of armored vehicle called the Cougar each month.

Now, Force Protection Industries Inc. employs 385 over three buildings and each day they build one of the large mine-resistant vehicles that are preserving the lives of soldiers and Marines in Iraq.

And there will be more workers lining up on the assembly floor soon.

BAE Systems Land & Armaments Operating Group has been awarded a $445 million contract to build light armored vehicles for the Iraqi Army, the Defense Department announced last week.

Force Protection is a subcontractor on the contract, which initially calls for 378 Cougars at $180 million, said Michael Aldrich, vice president of sales. Eventually, as many as 1,050 could be built.

"The bad guys don't like these vehicles," Aldrich said. "We are coming up on three years, and we have not had close to a fatality. The worst we have had is a broken wrist."

Technical Solutions Group, formed in 1997 in California, took over a former propeller shop on the old Navy base in North Charleston in 1999 where it worked on mine-resistant technology. Force Protection bought the company four years ago and in 2003 moved to the Ladson location to a plant that once produced General Electric turbine engines.

Force Protection achieved profitability in the first quarter of this year, recording a gross profit of $6.6 million on sales of almost $35 million and a net profit of $114,000, the result of a sharp increase in demand for the armored vehicles, according to a release from the company, which is traded over-the-counter.

The Cougar and its cousin, the Buffalo, which is about twice its size, have V-shaped hulls designed to help deflect the blasts of land mines and roadside bombs.

Most combat deaths in Iraq are caused by roadside bombs, which the military calls improvised explosive devices, or IEDs.

A 4-by-4 Cougar weighs about 12 tons and is equipped with tires that will run even when flat. It can resist the force of the equivalent of 30 pounds of TNT under any wheel and 15 pounds of TNT exploding beneath its hull, according to its specifications.

"They are highly effective vehicles for what they are designed to do," said Capt. Jeff Landis, a spokesman for the Marine Corps Systems Command, who said the vehicles are generally used for escort and mine clearing.

There are more than 130 Cougars and Buffalos in Afghanistan and Iraq. The vehicles have taken about 1,000 IED hits without a loss of life, said Wayne Phillips, a company vice president in charge of Marine Corps programs.

"The Cougar has opened the door for other possibilities," Landis said. "Here you have a completely armored vehicle that serves a great purpose and need in Iraq. It has provided a way ahead for us to look at other possibilities for a utility vehicle."

Those possibilities include vehicles to move cargo and troops, he said.

Force Protection is working on a prototype, dubbed the Mover, for a planned replacement of the Humvees used by the military.

The government will put out a request for proposals in November with production expected to start in 2008, said Phillips.

[la-onda]

SPAR: Spartan Chassis Secures $45M Contract
Tuesday , June 06, 2006 09:55 ET

Spartan Chassis, Inc., a subsidiary of Spartan Motors, Inc. (SPAR), announced it has secured a role through BAE Systems to supply and integrate key chassis components and assist in the manufacturing of 378 Iraqi Light Armored Vehicles. The expected order placed with Spartan Chassis will be worth approximately $45 million.

The Iraqi Light Armored Vehicles are similar to the Cougar armored vehicles and include Force Protection's (FRPT) V-shaped hull designed to deflect the force of explosions away from passengers inside the armored hull. Spartan reported it will begin work on the contract in June 2006 and expects to complete the contract by May 2007.

[la-onda]

insiders buying info:

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=4213552
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=4213588
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=4213610

chart update:

[la-onda]

detailed description about the BAE deal ($445.4M ILAV Contract) 

http://www.defenseindustrydaily.com/2006/06/bae-delivering-a-cougar-variant-for-iraqs-4454m-ilav-contract/index.php

[la-onda]

Iraq War, Hurricane Aid Agreement Reached
By ANDREW TAYLOR, Associated Press Writer
9:19 PM PDT, June 8, 2006

WASHINGTON -- House and Senate Republican leaders Thursday finalized agreement on a long-sought $94.5 billion bill to pay for the war in Iraq and deliver a much-needed infusion of relief to Louisiana and other hurricane-ravaged Gulf Coast states.

The bill won't clear Congress for President Bush's desk until next week, but the official submission of the deal eases Pentagon worries of a money crunch caused by weeks of delays in creating a compromise bill.

GOP leaders overcame the last snag to agreement -- insistence by two Senate GOP moderates that the bill include a promise to increase future spending on education and health programs -- by winning endorsement from Democratic Sens. Mary Landrieu of Louisiana and Daniel Inouye of Hawaii.

The bill includes $65.8 billion for military operations and maintenance in Afghanistan and Iraq, personnel and energy costs and new weapons and ammunition and a $2 billion initiative to locate and disarm roadside bombs.


SHOULD BE GOOD FOR FPRT

link:
http://www.latimes.com/news/nationworld/politics/wire/sns-ap-congress-iraq-katrina,1,5407710.story?coll=sns-ap-politics-headlines&ctrack=1&cset=true

[la-onda]

Three years on, hundreds make mine-protected vehicles2-10048
By Associated Press
Saturday, June 3, 2006 - Updated: 11:38 AM EST

LADSON, S.C. - Almost three years ago, about a dozen people working in a largely empty factory turned out one of a new breed of armored vehicle called the Cougar each month.
Now, Force Protection Industries Inc. employs 385 over three buildings and each day they build one of the large mine-resistant vehicles that are preserving the lives of soldiers and Marines in Iraq.

And there will be more workers lining up on the assembly floor soon.
BAE Systems Land & Armaments Operating Group has been awarded a $445 million contract to build light armored vehicles for the Iraqi Army, the Defense Department announced last week.
Force Protection is a subcontractor on the contract, which initially calls for 378 Cougars at $180 million, said Michael Aldrich, vice president of sales. Eventually, as many as 1,050 could be built.
"The bad guys don't like these vehicles," Aldrich said. "We are coming up on three years, and we have not had close to a fatality. The worst we have had is a broken wrist."
Technical Solutions Group, formed in 1997 in California, took over a former propeller shop on the old Navy base in North Charleston in 1999 where it worked on mine-resistant technology. Force Protection bought the company four years ago and in 2003, moved to the Ladson location to a plant that once produced General Electric turbine engines.
Force Protection achieved profitability in the first quarter of this year, recording a gross profit of $6.6 million on sales of almost $35 million and a net profit of $114,000, the result of a sharp increase in demand for the armored vehicles, according to a release from the company, which is traded over-the-counter.
The Cougar and its cousin the Buffalo, which is about twice its size, have V-shaped hulls designed to help deflect the blasts of land mines and roadside bombs.
Most combat deaths in Iraq are caused by roadside bombs, which the military calls improvised explosive devices, or IEDs.
A 4-by-4 Cougar weighs about 12 tons and is equipped with tires that will run even when flat. It can resist the force of the equivalent of 30 pounds of TNT under any wheel and 15 pounds of TNT exploding beneath its hull, according to its specifications.
"They are highly effective vehicles for what they are designed to do," said Capt. Jeff Landis, a spokesman for the Marine Corps Systems Command, who said the vehicles are generally used for escort and mine clearing. There are more than 130 Cougars and Buffalos in Afghanistan and Iraq. The vehicles have taken about 1,000 IED hits without a loss of life, said Wayne Phillips, a company vice president in charge of Marine Corps programs.
When America went to war in Iraq, "I don't think the IEDs were a surprise. I think the extent and sophistication of them were. I'm speaking as a civilian instead of a (retired) Marine colonel, but we probably did underestimate it," he said.
"The Cougar has opened the door for other possibilities," Landis said. "Here you have a completely armored vehicle that serves a great purpose and need in Iraq. It has provided a way ahead for us to look at other possibilities for a utility vehicle."
Those possibilities include vehicles to move cargo and troops, he said.

Force Protection is working on a prototype, dubbed the Mover, for a planned replacement of the Humvees used by the military.
The government will put out a request for proposals in November with production expected to start in 2008, said Phillips, who estimated there are about 15,000 Humvees now in service.

Spartan Chassis Inc. of Michigan builds the chassis for the Cougars. The armor is installed at the factory in Ladson, about 17 miles north of Charleston.
Roy Driggers, a former truck driver, has been with Force Protection almost from the start.
He first built the Buffalos then the Cougars and now works in quality control, testing the trucks, including a 50-mile run at highway speeds, before they are turned over to the military.
He likes building vehicles that save lives.
"You know where this is going and what it is for," Driggers said, adding he has six cousins and nephews serving in Iraq. "They may have a chance to ride in one of these."
But building a mine-resistant vehicle is about more than putting steel armor on a frame.
When a mine or IED explodes, a vehicle accelerates straight up or to the side, said Greg Gordon, a Force Protection engineer.
"If it's too high - especially in really light vehicles like unarmored Humvees - that acceleration can be enough to kill you. It breaks your neck or tears your heart away from all the veins in your chest," he said.
The design of Cougars, including the seats and the floor, help counter the effects of such acceleration, he said.
Force Protection has received a number of e-mail testimonials from troops in the field.
One, from Sgt. Chris Clair with a Marine explosive ordinance disposal team, described how a tire on a Cougar ran over mines placed in a hole in the pavement filled with water after a rain.
"Right after the explosion, the Cougar was driven for two miles on the three remaining tires at speeds in excess of 20 mph so that we could make it to a safe area," wrote Clair, who gave his location only as somewhere in Iraq.
He said the three Marines had slight concussions, but "if we had been in another type of vehicle ... the outcome would have been much worse."

link:
http://news.bostonherald.com/national/view.bg?articleid=142010&format=text

[la-onda]

update:
Force Protection Displays New Armored Vehicle at National Exhibitions
FT. BRAGG, N.C.--(BUSINESS WIRE)--June 12, 2006--Force Protection, Inc. (OTCBB:FRPT) will demonstrate advances in its blast protection technology by putting the Mine-resistant Utility Vehicle/Rapid Response (MUV-R) on display in major national exhibitions. The MUV-R will be featured at the IED 2006 Symposium & Expo at the Crown Center Expo Center at Fort Bragg, NC on June 12-14 and the U.S. Special Operations Command (USSOCOM) Advance Planning Briefing to Industry (APBI) on June 19-22 in Tampa, FL.

The MUV-R is Force Protection's prototype vehicle offering for the Joint Light Tactical Vehicle (JLTV) program, which is intended to replace the current, aging HMMWV fleet. It incorporates similar protection levels as the manufacturer's other vehicle series, the Buffalo route clearance and Cougar troop transport vehicles, which have been deployed in Iraq and Afghanistan since 2003.

"The MUV-R has been observed by key decision-makers involved in the HMMWV replacement effort, beginning with the NATC Technology Rodeo in Nevada," said Force Protection CEO Gordon McGilton. "We have received universally positive feedback regarding the vehicle, with officials confirming that the MUV-R hit the nail on the head. We are excited to see what the future holds for this vehicle."

The MUV-R was one of a select group of vehicles presented at the NATC Rodeo. Force Protection was the only manufacturer asked to stay on-site an extra day to discuss details of the vehicle's construction and capabilities. The company has now been included in a small, select group of manufacturers asked for their input regarding the further development and definition of JLTV specifications.

"This is a major accomplishment for Force Protection to be consulted on the JLTV," said McGilton. "It validates the credibility that the company and its vehicles have earned both in testing and in combat."

[la-onda]

chart update:

Yesterday´s Candlestick Patterns:
White Marubozu

[la-onda]

FRPT: Secures License to Develop Patented Blast Manipulation Technology
Thursday , June 15, 2006 08:47 ET

Force Protection, Inc. (FRPT) announced that its wholly owned subsidiary, Force Protection Technologies Inc., has signed an agreement with South Africa's Council for Scientific and Industrial Research focusing on a patented blast manipulation technology applicable to wheeled and tracked vehicles.

Under the agreement, which is pending regulatory approval from South Africa's Reserve Bank, Force Protection will have the sole right to perform research and development, conduct testing on any aspect of the technology, and market the product in countries around the world.

&

Force Protection is developing a Mine-protected Utility Vehicle / Rapid Deployable (MUV-R) as a lighter-weight personnel carrier that incorporates the same protective capabilities as the Cougar. The MUV-R will have speed, climb, and general off-road performance capabilities comparable with the up-armored Humvee. Weighing 10 to 12 tons, the MUV-R will be designed to offer mine and blast protection. The vehicle will also be equipped with a roof-mounted remote controlled weapons station. The vehicle is expected to be ready for field testing by the end of 2006.

Photo here:
http://www.defense-update.com/products/m/MUV-R.htm

[la-onda]

update:
Force Protection is a Joint-Service Endeavor, Army General Says
Friday , June 16, 2006 23:45 ET

Jun 16, 2006 (DEFENSE DEPARTMENT/ContentWorks via COMTEX) -- WASHINGTON, June 16, 2006 -- Ongoing efforts to provide better protective gear for soldiers also benefits other servicemembers, a senior Army officer said at a House Armed Services Committee hearing here yesterday.

"The Army's Number One concern is force protection," the service's chief force-development official Maj. Gen. Stephen M. Speakes told Capitol Hill legislators. In fact, Army research teams, he said, have developed and fielded better body armor, improved helmets and enhanced vehicle protection systems.

Yet, "we're a member of a joint team," Speakes said. For example, Army efforts to develop better body and wheeled vehicle armor, he said, benefits soldiers and Marines alike.

The Army also is partnering with the Navy and Marine Corps to devise methods of defeating improvised explosive devices employed by enemy forces in Iraq and Afghanistan, Speakes said. IEDs cause the most U.S. combat casualties in the war against terrorism.

By pooling brainpower and resources the armed services can "work for common solutions as we look at a battleground that is increasingly challenging for our men and women who are deployed-forward," Speakes said.

One solution involves an improved integrated body armor vest, Speakes said, that features improved ceramic plate-armor as well as added protection to guard soldiers' upper shoulder and side areas. About 20,000 sets of the improved body armor have now been issued to troops in combat zones, Speakes said. About 200,000 sets of the improved body armor are slated for issue by December 2006.

The new body armor is the best that technology can provide at present, Speakes said. But at an average weight of about 31 pounds, the new armor isn't light.

However, "we continue to improve and work with everything we can to try to find new technologies and new opportunities," Speakes said, noting several new ideas are now being evaluated.

"We will improve and will continue to make soldiers safer," he said.

New, improved head protection called the advanced combat helmet is being issued to the field to replace the Kevlar helmet issued since the early 1980s, Speakes said. The old helmet, he said, limits a wearer's upward vision, interferes with the new body armor, and doesn't seat well on a wearer's head.

Speakes said the new helmet has improved ballistic protection, weighs about 2 pounds less, and is trimmed down at the front and sides to provide a better field of vision for wearers.

"It is much more effective operating in today's complex battlefield," Speakes said.

The Army began fielding the new helmet in 2002, he said, noting more than 600,000 have been issued to soldiers.

Providing enhanced armor for Humvees used in Afghanistan and Iraq has been another important task, Speakes said.

"Up-armored Humvees continue to be an area of great concern," Speakes said. "They are the primary combat platform that soldiers are using in Iraq."

Speakes said the Army is working to provide Level 1-type Humvee protection to new additions to its fleet featuring factory-installed vehicle armor, ballistic windows, and air conditioning. Last year, the Army met theater commander's requirements for enhanced-armor, Level 1 Humvees, he said, and expects to do so again this year.

Level-2 equipped vehicles with factory-supplied, field-installed supplemental armor will gradually be phased out, he said, while Level 3 variants with jury-rigged armor or no armor at all are prohibited from leaving forward operating bases.

About 18,000 factory-armored Level 1-type Humvees will be delivered to combat zones by spring of next year, Speakes said.

[Stocky2000]

i am holding this one....looks good could breakout soon.

[Stocky2000]

Force Protection Announces Follow-On Order for Additional Cougar Vehicles
Tuesday June 20, 1:12 pm ET


LADSON, S.C.--(BUSINESS WIRE)--June 20, 2006--Force Protection, Inc. (OTCBB:FRPT - News) today announced a follow-on order by the U.S. Marine Corps for 15 additional Cougar Joint Explosive Ordnance Disposal Rapid Response Vehicles (JERRV). The order, which includes associated support items and services, is worth an estimated $9.3 million.
ADVERTISEMENT


The U.S. Department of Defense awarded Force Protection a contract for 79 Cougar JERRVs in May. This marks the second delivery order made under the contract in less than two months. All vehicles will be manufactured and delivered to the government this calendar year.

"The Joint IED Defeat Organization is funding these vehicles in a manner that leaves no question as to how urgently they are needed," said Force Protection CEO Gordon McGilton. "We are responding in kind not only with this life-saving technology, but with the resources necessary to maintain the vehicles at the highest levels of performance."

Force Protection has placed more than 30 Field Service Representatives (FSRs) in the field to assist the armed forces in training and vehicle maintenance in Iraq and Afghanistan.

"We have a proven solution to counter IEDs in the Cougar JERRV," said Vice President for Marine Corps Programs Wayne Phillips. "It is being fielded in greater numbers every day, and with the support system created by the deployment of our FSRs, troops will continue to have the resources that ensure optimal use of these vehicles."

[Terliso]

Very tough Armored Vehicle


June 13, 2006
Ansar Al Sunnah IED attack on Armored Buffalo Vehicle
The Army of Ansar Alsunnah, an Iraqi Insurgency group, released a video along with a satement of an attack on a US vehicle which they said took place on June 12th 2006 in the city of Mosul. Mosul is a city just north of the Iraqi Capital of Baghdad and has been a hotbed of Iraqi Insurgency actions against Coallition forces as well as Shiite groups in Iraq. The vehicle which was attack was an Anti IED unit called a Buffalo.

The Buffalo heavily armored EOD vehicle follows the South African monocoque capsule protection concept with US manufactured automotive platform, offering protection from IEDs and up to 45 pound landmine explosion under any wheel and 30 pound mine explosion under the centerline protection. An upgrade package offers protection from Self Forged Fragmentation (SFF) mines. The vehicle is used with US forces in Iraq for route clearing and counter IED activities.

No casualities were reported from this attack on the Buffalo


VIDEO:
http://www.ogrish.com/archives/ansar_al_sunnah_ied_attack_on_armored_buffalo_vehicle_Jun_13_2006.html